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Final Regs on Qualified Longevity Annuity Contracts Pose Challenges for Plan Sponsors and Participants
Thompson Coburn Link to more items from this source
[Guidance Overview]
Dec. 5, 2014
"The goal to help individuals maintain an income stream throughout the golden years is laudable. The idea of allowing an exception to the RMD calculation for a QLAC certainly is one way to help meet that goal. However ... the final regulations contain numerous requirements and possible traps in order to achieve the requisite status under the RMD rules. Given all of these requirements and the overall complexity of explaining annuities generally to participants, it remains to be seen how quickly plan sponsors adopt these vehicles in their plans and even if they are permitted under the plan, how quickly participants embrace these products."

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